Acceptance: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add definition. Source: Linked pages) |
imported>Doug Williamson (Add definition. Source - Oxford English Dictionary.) |
||
| Line 19: | Line 19: | ||
Abbreviation for acceptance for settlement. | Abbreviation for acceptance for settlement. | ||
5. ''Agreeing to receive''. | |||
More broadly, agreeing to receive something. | |||
Revision as of 13:56, 2 December 2021
1. Bills of exchange.
An acceptance is a bill of exchange which has been 'accepted' by a high quality credit - usually a bank - effectively guaranteeing payment and thereby enhancing the credit quality of the bill.
2. Trade finance.
A trade acceptance.
3. Law - contract.
Acceptance is one of the essential requirements for the formation of a contract under English law.
Another essential requirement being an offer.
4. Payment systems.
Abbreviation for acceptance for settlement.
5. Agreeing to receive.
More broadly, agreeing to receive something.
